Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2015

Property Tax Annotations

840.0000 TIMBER YIELD TAX

Annotation 840.0220

840.0220 Welfare Exemption. Timber harvested from land exempt from property taxation under the welfare exemption is subject to the tax. Liability for the tax, however, is upon the "first person" acquiring legal title or beneficial title to the timber after it has been felled from land owned by the exempted organization. C 3/31/1980.